May 10, 2018 / 11:50 AM / 17 days ago

BRIEF-Lilly Announces Agreement To Acquire Armo Biosciences

May 10 (Reuters) - ARMO Biosciences Inc:

* LILLY ANNOUNCES AGREEMENT TO ACQUIRE ARMO BIOSCIENCES

* ARMO BIOSCIENCES INC - DEAL FOR APPROXIMATELY $1.6 BILLION

* ARMO BIOSCIENCES INC - DEAL FOR $50 PER SHARE

* ARMO BIOSCIENCES INC - LILLY WILL COMMENCE TENDER OFFER TO ACQUIRE ALL SHARES OF ARMO FOR PURCHASE PRICE OF $50 PER SHARE IN CASH

* ARMO BIOSCIENCES INC - THERE WILL BE NO CHANGE TO LILLY’S 2018 NON-GAAP EARNINGS PER SHARE GUIDANCE AS A RESULT OF DEAL

* ARMO - AFTER TENDER OFFER CLOSE, LILLY WILL BUY ANY SHARES OF ARMO NOT TENDERED INTO TENDER OFFER THROUGH SECOND-STEP MERGER AT TENDER OFFER PRICE Source text for Eikon: Further company coverage:

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